Business
Portuguese shareholding increases to c.12%
Portuguese shareholding increases to c.12%.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n\n \n \n1 August 2024\n \nSavannah Resources Plc\n(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')\n \nPortuguese shareholding increases to c.12%\n \nSavannah Resources Plc, the developer of the Barroso Lithium Project (the 'Project') in Portugal, Europe's largest spodumene lithium deposit, is pleased to report that the shareholding in the Company owned by Portuguese investors is now approximately 12%.\n \nSavannah has received notification that Slipstream Resources ('Slipstream') has sold 75m shares to an existing significant Portuguese shareholder on 31 July 2024. Following this transaction, Slipstream remains a significant shareholder in Savannah with 73.3m Shares, representing 3.37% of the Company's issued share capital with voting rights, and the total shareholding held by Portuguese investors has risen to approximately 12%.\n \nEmanuel Proença, Savannah's Chief Executive Officer said, \"We are delighted that the overall Portuguese shareholding in Savannah continues to grow and is now around 12%. I trust that Portuguese and non-Portuguese investors alike interpret this domestic buying as a further indicator of the desire shared by many Portuguese for the Project to enter production and play its part in building a new sector for Portugal's economy, whilst also contributing to national and European efforts to execute the energy transition.\"\n \n\"The Project is now in an extremely strong position, supported by the c.£21m (c.€25m) of cash the Company reported in late June following the investment by our new strategic partner, AMG Critical Materials N.V.. We are grateful for the support provided by our strategic partner and our many other shareholders, and l...